If closing costs of $2,800 are associated with the refinance of a mortgage that would reduce the monthly payment from $1,180 to $1,074 refinance, it would take approximately months to cover these costs. (Round your answer to the nearest full month.)
If closing costs of $2,800 are associated with the refinance of a mortgage that would reduce the monthly payment from $1,180 to $1,074 refinance, it would take approximately months to cover these costs. (Round your answer to the nearest full month.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![If closing costs of $2,800 are associated with the refinance of a mortgage that would
reduce the monthly payment from $1,180 to $1,074 refinance, it would take approximately
months to cover these costs. (Round your answer to the nearest full month.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F439d53b1-c1f8-40e5-b808-5f4d3f0c6384%2Ff278d807-c546-4e7e-88e8-5c400e26fe1a%2F8dgw1lh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If closing costs of $2,800 are associated with the refinance of a mortgage that would
reduce the monthly payment from $1,180 to $1,074 refinance, it would take approximately
months to cover these costs. (Round your answer to the nearest full month.)
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